In a recent study on market dynamics of cosmetic shea butter, Transparency Market Research (TMR), notes notable growth between 2018 and 2026. Partly, the credit for the projected growth is owed to efforts directed towards the end by International Cocoa Organization and Global Shea Alliance.
It has also contributed positively to better collaboration between various stakeholders such has manufacturers, distributors, wholesalers, and suppliers. And, it comes as no surprise that this comes forth as a stronger supply chain, contributing to growth in global cosmetic shea butter market, which is set to chart a steady CAGR (Compound Annual Growth Rate) of 5%.
One of the largest growth factors of the global cosmetic shea butter market is the growth of market of chemical free products. The reason behind this shift is the perceived benefits of natural products over chemical based products, which are considered to be harmful, causing side effects.
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Demand for Premium Skin Care Cosmetic Products to Fuel Growth in Global Cosmetic Shea Butter Market
Thanks to an intense influence of social media on everyday lives of people, flawless skin, hair and body are a necessity. And, sue to some very favorable properties of shea butter, it is demand is rising significantly. Rich in vitamins and fatty acids, it is known for making skin soft and glowing. And, thus one would note and increased used of this product in various cosmetic products over the coming few years. Also, it has healing properties and is used for anti-inflammatory treatment because it has the ability to soothe and tone skin. It is also a conditioning agent.
Asia Pacific to Chart a Significant CAGR over the Forecast Period
As per TMR analysts, the fastest growing region in the global cosmetic shea butter market over the forecast period would be Asia Pacific (APAC), charting a CAGR of 5.2%. Few of the most notable reasons behind this growth in the region are the demand for color cosmetics, rising awareness and also a natural tendency to opt for nature based products over chemical based variants. Besides, as natio0ns flanking the region do well economically, disposable incomes rise, improving the standard of living, supporting the global cosmetic shea butter market. It is also worth noting at this point that the government is also supporting growth in the market by facilitating trade of such products in the cosmetics universe.
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The Global Cosmetic Shea Butter Market to Witness a Fragmented Competitive Landscape over the Forecast Period
The global cosmetic shea butter market is fragmented. Market players are keenly focusing on the research and development aspect of their overall growth strategy. The other domain that has caught attention, as can be gained from information spelled out above on a closer look, is that of marketing
Prominent names in the global cosmetic shea butter market playfield include the likes of BASF SE; Olvea Group; Sophim S.A.;Cargill, Inc.; Suru Chemicals; Ghana Nuts Company Ltd.; Croda International Plc; Agrobotanicals, LLC; Clariant AG; and AAK AB, among others.
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